1994 Honda Accord Insurance Rates

Are you confused by the sheer number of auto insurance company choices? You have a lot of company. You have so many options that it can be more work than you anticipated to find the best price.

You should make it a habit to compare rates before your policy renews due to the fact that insurance rates are constantly changing. Despite the fact that you may have had the lowest rates for Accord coverage last year there may be better deals available now. Starting now, forget all the misinformation about auto insurance because you’re going to get a crash course in the things you must know in order to find lower rates on auto insurance.

If you currently have car insurance, you should be able to save some money using these techniques. The purpose of this article is to help educate you on the best way to quote coverages and some tips to save money. Although car owners must comprehend the way companies market insurance on the web and take advantage of how the system works.

Auto Insurance Comparison Rates

There are a lot of ways to shop for auto insurance, but one way is less time-consuming than others. You could waste a few hours discussing policy coverages with local insurance agents in your area, or you can stay home and use online quoting to get pricing more quickly.

Most of the best insurance companies take part in a program where insurance shoppers submit one quote, and each company then gives them pricing. This prevents consumers from doing quotation requests to each individual auto insurance company. To get comparison pricing now click here to start a free quote.

One minor caviat to getting quotes like this is that you can’t choose which companies you want to price. If you prefer to choose individual companies to request quotes from, we have a listing of companies who write auto insurance in your area. Click here for list of insurance companies.

It doesn’t matter which method you choose, just double check that you are using identical deductibles and coverage limits for every quote you compare. If you compare higher or lower deductibles it’s not possible to find the best deal for your Honda Accord. Slightly different coverages can make a big difference in price. Keep in mind that comparing a large number of companies will enable you to find a lower rate.

Parts of the Honda Accord rate equation

Smart consumers have a good feel for the factors that go into determining your auto insurance rates. Knowing what impacts premium levels empowers consumers to make smart changes that will entitle you to lower auto insurance prices.

Listed below are some of the factors used by your company to calculate prices.

  • Men are more aggressive – The statistics show women tend to be less risk to insure than men. That doesn’t necessarily mean that men are worse drivers. Men and women tend to get into accidents in similar numbers, but men cause more damage. Men also get more serious tickets like DUI and reckless driving. Male drivers age 16 to 19 are several times more likely to be in an accident and thus pay the highest rates.
  • Your credit rating is important – Having a bad credit score is a large factor in determining your rates. Drivers who have high credit ratings tend to be better drivers and file fewer claims than drivers with poor credit. So if your credit score is low, you could potentially save money when insuring your 1994 Honda Accord by improving your rating.
  • Little extras can really add up – There are many extra bells and whistles that you can buy when buying auto insurance. Things like vanishing deductibles, towing coverage and membership fees are some examples. These may sound like a good investment when talking to your agent, but your needs may have changed so remove them from your policy.
  • Proper usage rating affects rates – Driving more miles each year the more you will pay for auto insurance. Most companies apply a rate based upon how you use the vehicle. Cars not used for work or commuting qualify for better rates compared to those used for work or business. Improper usage on your Accord can cost quite a bit. Ask your agent if your auto insurance coverage shows the proper vehicle usage.
  • Pay less if you’re married – Having a spouse actually saves money on auto insurance. Having a significant other is viewed as being more mature and statistics show drivers who are married are more cautious.
  • More than one policy can earn a discount – Some companies will award you with lower prices to people who buy several policies from them in the form of a multi-policy discount. Even though this discount sounds good, it’s still a good idea to compare rates to ensure the best deal. Drivers may still find better rates by buying insurance from more than one company.

Discounts are available to cut your rates

Car insurance can cost a lot, buy you may qualify for discounts to reduce the price significantly. Most are applied when you complete an application, but a few need to be requested specifically prior to getting the savings.

  • Good Student Discount – Getting good grades can earn a discount of 20% or more. The discount lasts up to age 25.
  • Military Rewards – Being on active duty in the military could mean lower rates.
  • Sign Early and Save – A few companies offer discounts for signing up before your current expiration date. It can save you around 10%.
  • Clubs and Organizations – Being a member of a qualifying organization could qualify you for a break when buying car insurance for Accord coverage.
  • No Claims – Claim-free drivers pay less as compared to frequent claim filers.
  • Low Mileage – Keeping the miles down on your Honda can qualify you for lower rates on the low mileage vehicles.
  • Air Bag Discount – Vehicles with factory air bags and/or automatic seat belt systems may earn rate discounts up to 30%.
  • Homeowners Savings – Simply owning a home can save you money because owning a home demonstrates responsibility.

Drivers should understand that most of the big mark downs will not be given to all coverage premiums. Most only apply to the price of certain insurance coverages like comp or med pay. Just because it seems like having all the discounts means you get insurance for free, car insurance companies aren’t that generous. But any discount will bring down your overall premium however.

To see a list of insurance companies who offer car insurance discounts, click here to view.

Everyone needs different coverages

When it comes to buying coverage, there is no cookie cutter policy. Each situation is unique.

Here are some questions about coverages that might point out if you would benefit from an agent’s advice.

  • Is pleasure use cheaper than using my 1994 Honda Accord to commute?
  • Can I get a multi-policy discount for packaging my home and auto coverage?
  • I don’t drive much so do I pay less?
  • Is my teen driver covered when they drive my company car?
  • Am I covered when renting a car or should I buy coverage from the car rental agency?
  • How high should my uninsured/underinsured coverage be in my state?
  • Does medical payments coverage apply to all occupants?

If you’re not sure about those questions, you may need to chat with an agent. If you want to speak to an agent in your area, complete this form.

Specific coverages for a 1994 Honda Accord

Understanding the coverages of your insurance policy can be of help when determining the right coverages and proper limits and deductibles. Insurance terms can be impossible to understand and nobody wants to actually read their policy.

Uninsured and underinsured coverage

This protects you and your vehicle’s occupants from other drivers when they either are underinsured or have no liability coverage at all. Covered losses include hospital bills for your injuries as well as your vehicle’s damage.

Because many people only carry the minimum required liability limits, it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage is very important. Frequently the UM/UIM limits are identical to your policy’s liability coverage.

Comprehensive coverages

Comprehensive insurance coverage pays to fix your vehicle from damage OTHER than collision with another vehicle or object. You first have to pay a deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage protects against things like rock chips in glass, fire damage and damage from flooding. The maximum payout you can receive from a comprehensive claim is the ACV or actual cash value, so if it’s not worth much more than your deductible it’s not worth carrying full coverage.

Auto liability

Liability coverage can cover damages or injuries you inflict on other’s property or people that is your fault. It protects YOU against other people’s claims. It does not cover damage to your own property or vehicle.

Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. You commonly see policy limits of 50/100/50 which stand for $50,000 bodily injury coverage, a per accident bodily injury limit of $100,000, and a limit of $50,000 paid for damaged property. Some companies may use a combined limit which limits claims to one amount and claims can be made without the split limit restrictions.

Liability coverage pays for things such as bail bonds, loss of income and medical services. How much liability coverage do you need? That is a decision to put some thought into, but consider buying as much as you can afford.

Coverage for medical payments

Personal Injury Protection (PIP) and medical payments coverage reimburse you for expenses such as ambulance fees, chiropractic care and pain medications. The coverages can be used in conjunction with a health insurance plan or if you are not covered by health insurance. It covers all vehicle occupants as well as being hit by a car walking across the street. Personal injury protection coverage is not an option in every state but can be used in place of medical payments coverage

Coverage for collisions

This covers damage to your Accord resulting from a collision with an object or car. You have to pay a deductible and then insurance will cover the remainder.

Collision coverage protects against things such as colliding with another moving vehicle, colliding with a tree and damaging your car on a curb. This coverage can be expensive, so consider removing coverage from older vehicles. Drivers also have the option to raise the deductible to save money on collision insurance.

Keep this in mind

Drivers who switch companies do it for a number of reasons such as policy cancellation, questionable increases in premium, an unsatisfactory settlement offer and delays in paying claims. Regardless of your reason for switching companies, switching auto insurance companies is actually quite simple.

When shopping online for auto insurance, never reduce coverage to reduce premium. There have been many cases where someone dropped physical damage coverage only to regret at claim time that the few dollars in savings costed them thousands. Your goal should be to buy the best coverage you can find at the best price, not the least amount of coverage.

The cheapest 1994 Honda Accord insurance is available from both online companies and also from your neighborhood agents, and you should compare price quotes from both so you have a total pricing picture. There are still a few companies who may not provide you the ability to get quotes online and usually these small, regional companies provide coverage only through local independent agents.

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